REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 May 2023 |
for |
Trade Management Services Group Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 May 2023 |
for |
Trade Management Services Group Ltd |
Trade Management Services Group Ltd (Registered number: 10610549) |
Contents of the Financial Statements |
for the Year Ended 31 May 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Trade Management Services Group Ltd |
Company Information |
for the Year Ended 31 May 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
1,733 Coventry Road |
South Yardley |
Birmingham |
West Midlands |
B26 1DT |
Trade Management Services Group Ltd (Registered number: 10610549) |
Balance Sheet |
31 May 2023 |
31.5.23 | 31.5.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
7 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Trade Management Services Group Ltd (Registered number: 10610549) |
Balance Sheet - continued |
31 May 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Trade Management Services Group Ltd (Registered number: 10610549) |
Notes to the Financial Statements |
for the Year Ended 31 May 2023 |
1. | STATUTORY INFORMATION |
Trade Management Services Group Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Trade Management Services Group Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
In the accounts of Trade Management Services Group Ltd investments held as fixed assets are stated at cost less any provision for permanent diminution in value. |
The investments relate to shares held in group undertakings. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Trade Management Services Group Ltd (Registered number: 10610549) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2023 |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 June 2022 |
Disposals | ( |
) |
At 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
At 31 May 2022 |
Trade Management Services Group Ltd had a significant influence on Trade Management Services Ltd up to the date of its disposal on 28 October 2022. |
Trade Management Services Ltd was incorporated in England. Trade Management Services Group Ltd was the parent company of Trade Management Services Lt up to 28 October 2022. On 28 October 2022, Trade Management Services Group Ltd sold its shareholding in Trade Management Services Ltd to Trade Management Services (Holdings) Limited. |
The aggregate capital and reserves of this entity at the balance sheet date was as follows:- |
2022 |
Profit for the year |
Capital & reserves |
£ | £ |
Trade Management Services Ltd | 682,589 | 2,409,413 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.23 | 31.5.22 |
£ | £ |
Amounts owed by parent company | 306,799 | - |
Prepayments and accrued income |
Trade Management Services Group Ltd (Registered number: 10610549) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.23 | 31.5.22 |
£ | £ |
3.5% Redeemable preference |
shares |
Trade creditors |
Amounts owed to group undertakings |
Amounts owed to parent company | - | 2,728 |
Tax |
Accruals and deferred income |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.5.23 | 31.5.22 |
£ | £ |
3.5% Redeemable preference |
shares 1-2 years | - | 50,000 |
3.5% Redeemable preference |
shares 2-5 years |
3.5% Redeemable preference |
shares > 5 years | - | 100,000 |
Amounts falling due in more than five years: |
Repayable by instalments |
3.5% Redeemable preference |
shares > 5 years | - | 100,000 |
- | 100,000 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.5.23 | 31.5.22 |
value: | £ | £ |
Ordinary | £1 | 3,000 | 3,000 |
3.5% Non-Redeemable preference | £1 | 50,000 | 50,000 |
53,000 | 53,000 |
10. | CAPITAL COMMITMENTS |
31.5.23 | 31.5.22 |
£ | £ |
Contracted but not provided for in the |
financial statements |
Trade Management Services Group Ltd (Registered number: 10610549) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2023 |
11. | RELATED PARTY DISCLOSURES |
At the balance sheet date, the company owed £296 (2022 - £459,984) by way of loans to group undertakings. These loans are unsecured and interest free with no specific repayment terms and is presented within creditors: amounts falling due within one year. |
In the year ended 31 May 2023, Trade Management Services Group Ltd was owed £306,799 by way of a loan from a parent undertaking. |
During the year the company paid interim dividends on its ordinary shares of £1,000,000 (2022 - £200,000), preference share dividends on its non-redeemable preference shares of £1,750 (2022 - £1,750) and preference share dividends of £5,135 (2022 - 13,731) on its redeemable preference shares to members of key management personnel and £6,847 to a group undertaking. |
During the year, the company paid preference share dividends on its non-redeemable preference shares of £1,016 to a group undertaking. |
In the year ended 31 May 2023, Trade Management Services Group Ltd received dividends of £840,000 (2022 - £400,000) from a group undertaking. |
On 28 October 2022, the company sold its shareholding in Trade Management Services Ltd to Trade Management Services (Holdings) Limited at par and on 1 November 2022 the companys redeemable and non-redeemable preference shares held by a member of key management personnel, were transferred to Trade Management Services (Holdings) Limited. |